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Maine Economic Indicators July 2025 PDF Free Download

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Maine Economic Indicators July 2025 PDF Free Download

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Maine Economic Indicators
July 2025
Maine Department of Administrative and Financial Services
Office of the State Economist
Amanda Rector, State Economist
Denise St. Peter, Economic Analyst
Maine Economic Indicators is a monthly report assembled by the Office of the State Economist that provides a
synopsis of current economic trends and indicators for the state in comparison to New England and the United
States. The intent of this report is to provide the public with a single document containing data aggregated from
different sources typically used to track current economic and demographic conditions in the state.
The appendix provides comprehensive information related to the data presented herein. Data included in this
report are assembled from various sources, subject to frequent revision, and provided in this report “as is” at the
time of publication. Therefore, data presented in this report are subject to change over time.
2
Contents
1 Snapshot .................................................................................................................................................... 3
2 Annual Indicators ....................................................................................................................................... 4
3 Quarterly and Monthly Indicators ................................................................................................................ 5
3.1 Gross Domestic Product (GDP) ........................................................................................................... 5
3.1.1 GDPNow from the Federal Reserve Bank of Atlanta .......................................................................... 5
3.2 Recession Indicators ........................................................................................................................... 6
3.2.1 Real-time Sahm Rule Recession Indicator ........................................................................................ 6
3.2.2 GDP-Based Recession Indicator Index ............................................................................................. 6
3.3 Labor Markets ..................................................................................................................................... 7
3.3.1 Unemployment Rate June 2025: 3.3% .............................................................................................. 7
3.3.2 Labor Force Participation Rate June 2025: 59.9% ............................................................................. 7
3.3.3 Total Nonfarm Payroll Job Estimates June 2025: 656,500 .................................................................. 8
3.4 National inflation measures ................................................................................................................ 9
3.4.1 Consumer Price Index vs. Personal Consumption Expenditures ........................................................ 9
3.4.2 Expenditure categories of the CPI .................................................................................................... 9
3.5 Energy .............................................................................................................................................. 11
3.5.1 Gasoline ....................................................................................................................................... 11
3.5.2 Brent Spot Prices........................................................................................................................... 11
3.6 Housing ............................................................................................................................................ 12
3.6.1 Sales ............................................................................................................................................ 12
3.6.2 House Price Index ......................................................................................................................... 13
3.6.3 Inventory ....................................................................................................................................... 13
3.7 Sentiment ......................................................................................................................................... 14
3.8 Trade Outlook ................................................................................................................................... 14
3.8.1 Exports and trade partners ............................................................................................................ 14
4 Appendix .................................................................................................................................................. 16
4.1.1 Data Sources ................................................................................................................................ 16
5. Glossary ................................................................................................................................................... 17
3
1 Snapshot
Indicators in this section provide a summary of Maine’s current economic status. Figures for Maine are compared
to New England and the United States. Sources are given in the appendix.
Reference
Period
Maine
New England
United
States
2024
Total population
1,405,012
15,386,085
340,110,988
2023-2024
Annual population percent change
0.4%
0.8%
1.0%
2020-2024
Cumulative population percent
change
3.1%
1.7%
2.6%
2023
Average earnings per job
$64,310
$83,918
$74,499
2022-2023
Average earnings per job percent
change
3.0%
1.8%
2.5%
June 2025
Unemployment rate
3.3%
4.2%
4.1%
June 2025
Total private nonfarm employment
553,800
6,617,800
136,026,000
June 2025
Labor Force
706,800
8,340,900
170,380,000
June 2025
Labor Force Participation Rate
59.9%
N/A
62.3%
Annualized Percent Change from the previous quarter and Year-Over-Year Percent Change
Real GDP
2024:Q2
2024:Q4
2025:Q1
2024:Q1-
2025:Q1
Maine
1.7
2.2
-1.2
1.6
New England
2.2
1.9
-0.8
1.5
United States
3.0
2.4
-0.5
2.0
Total Personal Income
2024:Q2
2024:Q4
2025:Q1
2024:Q1-
2025:Q1
Maine
2.4
8.0
6.7
4.9
New England
2.8
2.9
5.6
3.2
United States
3.8
5.4
6.7
4.5
Per Capita Personal Income
2024:Q2
2024:Q4
2025:Q1
2024:Q1-
2025:Q1
Maine
2.0
7.7
6.7
4.6
New England
2.0
2.5
5.3
2.6
United States
2.8
4.7
6.1
3.8
Wages & Salaries
2024:Q2
2024:Q4
2025:Q1
2024:Q1-
2025:Q1
Maine
-0.4
11.0
4.0
4.2
New England
1.5
2.2
4.1
2.0
United States
3.1
6.7
5.2
4.2
4
2 Annual Indicators
Indicators summarized below are updated annually on various release dates and provide a general summary of
Maine’s demographic and economic status.
Reference Period
Maine
New England
United States
2024
Total population
1,405,012
15,386,085
340,110,988
2023-2024
Annual population percent change
0.4%
0.8%
1.0%
2020-2024
Cumulative population percent change
3.1%
1.7%
2.6%
2024
Births
11,609
140,809
3,605,563
2024
Deaths
16,766
141,865
3,086,925
2024
Net migration
10,525
123,328
2,786,119
2023-2024
Annual rate of total net migration, per
thousand (Maine ranks 20th in the U.S.)
7.5
8.0
8.2
2023
Median age, years (American Community
Survey)
44.9
41.4
39.2
2023
Associate degree: percent of population age
25 and above
10.5%
8.0%
8.8%
2023
Bachelor’s degree: percent of population age
25 and above
23.2%
24.4%
21.8%
2023
Graduate or professional degree: percent of
population age 25 and above
13.7%
19.7%
14.3%
2023
Percent of population below poverty level
10.4%
10.1%
12.5%
2023
Median family income
$91,546
$115,746
$96,401
2023
Median household income
$73,733
$92,017
$77,719
2023
Per capita personal consumption
expenditures
$60,250
$65,660
$56,202
2023
Per capita disposable personal income
$58,110
$71,982
$61,291
5
3 Quarterly and Monthly Indicators
3.1 Gross Domestic Product (GDP)
Maine’s real GDP declined 1.2% at an annualized rate in the first quarter of 2025 ranking 33rd in the U.S. (decrease
of 0.5%) and last in New England (decrease of 0.8%). The industry sectors that had the most growth during the first
quarter were real estate and rental and leasing (+0.95 percentage points), information (+0.29 percentage points),
and state and local government (+0.08 percentage points). These gains were more than offset by declines in other
industries, including finance and insurance (-0.57 percentage points), retail trade (-0.33 percentage points), and
wholesale trade (-0.30 percentage points).
On July 30, the Bureau of Economic Analysis released the advance estimate of national real GDP for the first
second quarter of 2025, estimating an increase of 3.0% at an annual rate in Q2.
2025:Q1
Maine
United States
Nominal GDP (Current dollars)
$101.1 billion
$30.0 trillion
Real GDP (Chained 2017 Dollars)
$77.9 billion
$23.5 trillion
3.1.1 GDPNow from the Federal Reserve Bank of Atlanta
GDPNow, which is reported by the Atlanta Fed, is “a running estimate of real GDP growth based on available data
for the current quarter.” This model uses a similar methodology to the one used by the U.S. Bureau of Economic
Analysis in their official GDP estimates and is revised each time the monthly source data is updated. The nowcast
estimate for 2025:Q3 as of August 1 is that U.S. real GDP will increase by 2.1% at an annual rate.
$45
$50
$55
$60
$65
$70
$75
$80
Real GDP (billions of chained 2017
dollars)
Real GDP (billions of chained 2017 dollars) - Maine
6
3.2 Recession Indicators
NBER is the primary source in the United States that declares when recessions begin and end and defines a
recession as a significant decline in economic activity that is spread across the economy and lasts more than a
few months. Other recession indicators are used to estimate business cycles in real time but are not official
sources for when recessions begin and end.
3.2.1 Real-time Sahm Rule Recession Indicator
The Real-time Sahm Rule Recession Indicator
1
signals a recession when the 3-month moving average of the
national unemployment rate (U3) rises by at least 0.5 percentage points relative to its low in the previous 12
months. In June 2025, this indicator showed that the three-month average of national U3 was 0.17 percentage
points above its 12-month low.
3.2.2 GDP-Based Recession Indicator Index
The GDP-Based Recession Indicator Index
2
is 11.7 percentage points (2025:Q1), up from 6.8 in the fourth quarter
of 2024. The index ranges from 0 to 100, and values above 67 provide a historically reliable indicator that the
economy is in recession. This index is calculated with a one quarter lag, which allows for extra insight and
accounts for data revisions to make dependable inference. Therefore, the index does not get revised once it is
published.
1
Created by Dr. Claudia Sahm, Federal Reserve Board of Governors
2
Created by Dr. James Hamilton, University of California San Diego
7
3.3 Labor Markets
3
3.3.1 Unemployment Rate June 2025: 3.3%
Maine’s seasonally adjusted unemployment rate was 3.3% in June, little changed from May. Maine’s 3-month
average unemployment rate from April to June was 3.4%, down from 3.5% for the three months prior. Maine’s
unemployment rate has been trending below the U.S. unemployment rate since early 2022 and was below the
New England rate of 4.2% in June.
3.3.2 Labor Force Participation Rate June 2025: 59.9%
Labor force participation (LFP) was 59.9% in June, down slightly from 60.0% in May. The three month average LFP
rate was 60.0% from April to June, down from 60.3% for the previous three months. This decline mirrors trends at
the national level.
The employment to population ratio (EPOP), an alternative measure of labor market activity which measures the
total number of employed working-age adults divided by the total working-age population, was 58.0% in June,
unchanged from May.
3
The data for unemployment rates and labor force are derived from the Local Area Unemployment Statistics (LAUS) program
and data for nonfarm payroll jobs are derived from the Current Employment Statistics (CES) program. The numbers presented
below are estimates which vary month to month in either direction and are subject to substantial revision. The Maine
Department of Labor cautions users to analyze general trends over several months as opposed to making conclusions based
on changes month to month.
0.0
2.0
4.0
6.0
8.0
10.0
12.0
14.0
16.0
2018 2019 2020 2021 2022 2023 2024 2025
Percent
Unemployment Rate (Seasonally Adjusted)
Maine United States
8
3.3.3 Total Nonfarm Payroll Job Estimates June 2025: 656,500
Seasonally adjusted nonfarm jobs were down 700 in June. There were lower expected increases in seasonal
hospitality jobs during the month. Smaller than normal increases in a month become decreases when seasonally
adjusted. On an annual basis, nonfarm jobs are down by 500 compared to June 2024.
50.0
52.0
54.0
56.0
58.0
60.0
62.0
64.0
2018 2019 2020 2021 2022 2023 2024 2025
Percent
Labor Force Participation & Employment-Population Ratio (Maine)
Labor Force Participation Rate Employment to Population Ratio
500
520
540
560
580
600
620
640
660
680
2018 2019 2020 2021 2022 2023 2024 2025
Thousands of jobs
Total Nonfarm Employment Maine (seasonally adjusted)
9
3.4 National inflation measures
3.4.1 Consumer Price Index vs. Personal Consumption Expenditures
There are two measures of inflation in the United States. The Consumer Price Index is released by the Bureau of
Labor Statistics and is based on surveys of urban consumers, while Personal Consumption Expenditures price
index is calculated by the Bureau of Economic Analysis and based on surveys of what businesses are selling. Both
are used officially for various federal purposes, although the Federal Reserve focuses on PCE in monetary policy
decisions.
In June the PCE price index grew by 2.6% year-over-year (up from a 2.4% year-over-year change in May). On a
monthly basis, it increased by 0.3%. The CPI all-items index grew by 2.7% in June before seasonal adjustment.
Growth in both indexes has decelerated since June 2022 but inflation remains above the 2% Federal Reserve
target.
3.4.2 Expenditure categories of the CPI
The CPI for all urban consumers increased 2.7% year-over-year in June, up from 2.4% in May. On a seasonally-
adjusted monthly basis, the all-items index was up 0.3% from the month before, the fastest monthly increase in
the index since January 2025.
The shelter index was up 0.2% and was the primary reason for the all-items increase. The shelter index is up 3.8%
year-over year.
The energy index was up 0.9% in June, with gasoline up 1.0% during the month. The energy index is down 0.8%
year-over-year. The food index increased 0.3% in June and is up 3.0% year-over year.
The core index, which excludes volatile food and energy prices, increased 0.2% from the prior month and is up
2.9% year-over-year.
-4
-2
0
2
4
6
8
10
2000
2001
2002
2003
2004
2005
2006
2007
2008
2009
2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
Percent Change Year-Over-Year
Measures of inflation, Year-Over-Year Percent Change
PCE Price Index, 2017=100, seasonally adjusted Consumer Price Index All Items, 1982-84=100
2-percent Objective
10
Year-Over-Year
Month-Over-Month
(not seasonally adjusted)
(seasonally adjusted)
Table 1. Percent Change in Consumer Price Index by
Expenditure Category
May-25
Jun-25
May-25
Jun-25
All items
2.4
2.7
0.1
0.3
Food
2.9
3.0
0.3
0.3
Energy
-3.5
-0.8
-1.0
0.9
All items less food and energy
2.8
2.9
0.1
0.2
Commodities (less food and energy)
0.3
0.7
0.0
0.2
Household furnishings and supplies
0.6
1.7
0.3
1.0
Apparel
-0.9
-0.5
-0.4
0.4
Transportation commodities (less motor fuel)
1.0
1.2
-0.3
-0.4
Medical care commodities
0.3
0.2
0.6
0.1
Recreation commodities
-1.3
-0.8
0.4
0.8
Education and communication commodities
-3.8
-3.3
0.1
0.0
Alcoholic beverages
1.5
1.4
-0.1
0.1
Other goods
2.9
3.0
0.2
0.3
Services (less energy)
3.6
3.6
0.2
0.3
Shelter
3.9
3.8
0.3
0.2
Water and sewer and trash collection
5.2
5.4
0.2
0.4
Medical care services
3.0
3.4
0.2
0.6
Transportation services
2.8
3.4
-0.2
0.2
Recreation services
3.7
3.8
-0.1
0.2
Education and communication services
1.0
1.1
0.1
0.1
Other personal services
4.6
4.3
0.4
0.6
11
3.5 Energy
3.5.1 Gasoline
The average price of a gallon of gasoline in New England was $3.15 on July 28, $0.03 lower than the previous month
and $0.44 lower than the same week last year. The average price of gasoline in the month of July was up just $0.02
from June. Prices have been very stable over the past ten months.
3.5.2 Brent Spot Prices
The weekly Brent spot price averaged $70.53 for the month of July and was at $70.09 for the week ending July 25,
2025. The spot price increased by $0.13 since the week ending June 27, 2025.
$0.00
$1.00
$2.00
$3.00
$4.00
$5.00
$6.00
New England - All Grades and Formulations Gasoline Price Per Gallon
$0
$20
$40
$60
$80
$100
$120
$140
January 2020 January 2021 January 2022 January 2023 January 2024 January 2025
Weekly Brent Spot Price - Dollars per Barrel
12
3.6 Housing
3.6.1 Sales
The number of home sales in Maine increased by 10.5% in June 2025 compared to June 2024. The median sale
price in Maine was $425,000, unchanged from May and an increase of 4.9% year-over-year.
In the past three months, eleven counties had increases in homes sold compared to a year ago and five had
decreases. Nine counties had increases in median home prices, five had decreases, and two had little change.
The median sales price declined the most in Knox (-8.6%) and Washington had the largest increase (+27.5%).
April 1, 2025 – June 30, 2025 Home Sales
Geography
No. of Units
Sold
One Year Change
(Units)
Median Sale
Price
One Year Change
(Price)
Androscoggin
220
-11.3%
$350,000
5.5%
Aroostook
145
-2.0%
$180,000
17.1%
Cumberland
838
15.1%
$600,000
3.5%
Franklin
99
5.3%
$290,000
-3.3%
Hancock
162
2.5%
$402,500
5.6%
Kennebec
317
5.0%
$325,000
0.0%
Knox
108
-11.5%
$454,500
-8.6%
Lincoln
120
20.0%
$507,500
23.8%
Oxford
166
5.7%
$312,750
0.9%
Penobscot
346
-7.2%
$283,700
-1.5%
Piscataquis
71
-7.8%
$255,000
5.8%
Sagadahoc
96
10.3%
$452,500
-1.6%
Somerset
131
20.2%
$231,500
6.0%
Waldo
129
30.3%
$365,000
-8.5%
Washington
84
10.5%
$238,500
27.5%
York
596
5.9%
$537,500
2.4%
Maine
3,628
5.4%
$420,000
5.7%
-5.0%
0.0%
5.0%
10.0%
15.0%
20.0%
25.0%
30.0%
$0
$50,000
$100,000
$150,000
$200,000
$250,000
$300,000
$350,000
$400,000
$450,000
Jan-22 Apr-22 Jul-22 Oct-22 Jan-23 Apr-23 Jul-23 Oct-23 Jan-24 Apr-24 Jul-24 Oct-24 Jan-25 Apr-25
Maine Median Sale Price
Median Sales Price % Change from Prior Year
13
3.6.2 House Price Index
In the first quarter of 2025, Maine’s year-over-year growth in the house price index (HPI)
4
was 6.74% (seasonally
adjusted), 11th highest in the nation for year-over-year growth and third in New England. (Rhode Island was first in
the nation and Connecticut was third). Maine’s year-over-year growth was higher than the U.S. (4.01%) and just
above New England growth of 6.66%. On a seasonally adjusted quarterly basis, Maine’s HPI increased 3.1% from
the first quarter of 2025 compared to growth of 1.6% in New England and 0.7% in the U.S.
Reference Period
Maine
New England
United States
2024:Q1-2025:Q1
HPI percent change from previous year
6.74%
6.66%
4.01%
3.6.3 Inventory
There were 4,707 active listings of single-family and condo homes in Maine in June. Inventory is increasing, but still
remains low compared to the pre-pandemic period. The number of active listings in June 2025 was up 32% from
June 2024, but down 44% from June 2019. Since inventory levels have a defined seasonal pattern, it is most useful
to look at changes year-over-year.
4
According to the Federal Housing Finance Agency (FHFA), the HPI “measures average price changes in repeat sales or
refinancing on the same properties.”
-15%
-10%
-5%
0%
5%
10%
15%
20%
25%
30%
2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Year-over-year percent change
Percent Changes, Year-over-year in FHFA House Price Index
(Seasonally Adjusted)
United States New England Maine
0
2000
4000
6000
8000
10000
12000
May '18
Sep '18
Jan '19
May '19
Sep '19
Jan '20
May '20
Sep '20
Jan '21
May '21
Sep '21
Jan '22
May '22
Sep '22
Jan '23
May '23
Sep '23
Jan '24
May '24
Sep '24
Jan '25
May '25
Number of Active Listings
Housing Inventory: Active Listing Count in Maine
(not seasonally adjusted)
14
3.7 Sentiment
The Index of Consumer Sentiment from the University of Michigan saw a very small improvement in July, rising
1.6% above June. Despite this improvement, sentiment remains broadly negative, down 7% from a year ago.
Consumers expressed more positive sentiment around current conditions than future expectations. Both short-
term and long-term inflation expectations continued to decline in July, but consumers continue to expect higher
inflation than they did at the end of 2024.
The Small Business Optimism Index, as measured by the National Federation of Independent Businesses (NFIB)
was little changed in June, down just 0.2 points from May and up 8% from June 2024. The index is now at 98.6
points, slightly above the 50-year average of 98. An increase in businesses reporting excess inventories
contributed most to the modest decline. The top problem reported by businesses this month was taxes, with 19%
of owners identifying this as their top problem. Labor quality was second, with 16% of owners reporting this as
their single most important issue.
3.8 Trade Outlook
5
3.8.1 Exports and trade partners
In May 2025, total exports were down 14% in Maine, up 1% in New England, and up 6% nationwide compared to
May 2024. Maine’s top trade partner was Canada, which accounted for 68% of imports and 38% of exports.
5
The data reported here reflect conditions in May 2025, the most recent data available. Any impacts of trade-related policy
changes in June or later are not yet reflected in the data.
45
55
65
75
85
95
105
115
Jan-14
May-14
Sep-14
Jan-15
May-15
Sep-15
Jan-16
May-16
Sep-16
Jan-17
May-17
Sep-17
Jan-18
May-18
Sep-18
Jan-19
May-19
Sep-19
Jan-20
May-20
Sep-20
Jan-21
May-21
Sep-21
Jan-22
May-22
Sep-22
Jan-23
May-23
Sep-23
Jan-24
May-24
Sep-24
Jan-25
May-25
Consumer Sentiment and Small Business Optimism Indexes
Univ. of Mich. Consumer Sentiment (1966=100) NFIB Small Business Optimism (1986=100)
15
Similar to the nation, Maine’s trade deficit grew in recent years as the U.S. dollar strengthened relative to foreign
currencies, which makes imports from other countries cheaper and more attractive. Conversely, a strong U.S.
dollar can lead to decreasing exports, as goods and services from the U.S. are more expensive for international
consumers. More recently, as the strength of the U.S. dollar has weakened, Maine’s trade deficit has started to
shrink. After peaking in August 2022 at -$471 million, Maine’s six-month average trade deficit was -$253 million as
of May 2025.
0
100,000,000
200,000,000
300,000,000
400,000,000
500,000,000
600,000,000
700,000,000
800,000,000
Jan-10
Aug-10
Mar-11
Oct-11
May-12
Dec-12
Jul-13
Feb-14
Sep-14
Apr-15
Nov-15
Jun-16
Jan-17
Aug-17
Mar-18
Oct-18
May-19
Dec-19
Jul-20
Feb-21
Sep-21
Apr-22
Nov-22
Jun-23
Jan-24
Aug-24
Mar-25
Customs value
Maine exports vs. imports, 6-month moving average
Exports Imports
16
4 Appendix
4.1.1 Data Sources
Indicator
Source
Reference Period
Release Date
Population: estimates and
percent change
Census Bureau – Pop. Ests.
2024
December 19, 2024
Net migration: total and percent
change
Census Bureau – Pop. Ests.
2024
December 19, 2024
Median age
Census Bureau – ACS 1-year
2023
September 12, 2024
Educational attainment
Census Bureau – ACS 1-year
2023
September 12, 2024
Poverty level
Census Bureau – ACS 1-year
2023
September 12, 2024
Income
Census Bureau – ACS 1-year
2023
September 12, 2024
Per capita personal
consumption expenditure
U.S. Bureau of Economic Analysis
2023
October 3, 2024
Per capita disposable personal
income
U.S. Bureau of Economic Analysis
2023
September 27, 2024
Average earnings per job
U.S. Bureau of Economic Analysis
2023
September 27, 2024
Gross domestic product
U.S. Bureau of Economic Analysis
2025:Q1
June 27, 2025
GDPNow
Atlanta Fed
2025:Q3
August 1, 2025
Real-time Sahm Rule Recession
Indicator
Sahm, Claudia/FRED
June 2025
July 3, 2025
GDP-Based Recession Indicator
Index
Hamilton, James/FRED
2025:Q1
July 30, 2025
Personal income: total, per
capita, and wages and salaries
U.S. Bureau of Economic Analysis
2025: Q1
June 27, 2025
Unemployment rate
U.S. Bureau of Labor Statistics
June 2025
July 18, 2025
Labor force participation
U.S. Bureau of Labor Statistics
June 2025
July 18, 2025
Nonfarm payroll job estimates
U.S. Bureau of Labor Statistics
June 2025
July 18, 2025
Consumer Price Index
U.S. Bureau of Labor Statistics
June 2025
July 15, 2025
PCE Price Index
U.S. Bureau of Economic
Analysis/FRED
June 2025
July 31, 2025
Brent Spot Prices
Energy Information Administration
July 25, 2025
July 30, 2025
Gasoline
Energy Information Administration
July 28, 2025
July 29, 2025
House price index
Federal Housing Finance Agency
2025:Q1
May 27, 2025
Housing: Units and Median Sale
Price
Maine Association of REALTORS®
April 2025 – June
2025
July 23, 2025
Housing Inventory – Active
Listing Count in Maine
Realtor.com via FRED
June 2025
July 10, 2025
Index of Consumer Sentiment
University of Michigan Survey of
Consumers
July 2025
August 1, 2025
Small Business Optimism Index
National Federation of
Independent Businesses
June 2025
July 8, 2025
Imports & Exports
USA Trade Online
May 2025
July 3, 2025
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5. Glossary
Average earnings per job: Total earnings, which is the sum of wages and salaries, supplements to wages and
salaries, and proprietors’ income, divided by total full-time and part-time employment.
Gross Domestic Product: The measure of the market value of all final goods and services produced within a state
in a particular period of time. GDP by state differs from national GDP for the following reasons: GDP by state
excludes and national GDP includes the compensation of federal civilian and military personnel stationed abroad
and government consumption of fixed capital for military structures located abroad and for military equipment,
except office equipment. Real GDP: Real GDP by state is an inflation-adjusted measure of each state's gross
product that is based on national prices for the goods and services produced within the state. The real estimates
of gross domestic product (GDP) by state are measured in chained (2017) dollars.
Housing Price Index: A weighted, repeat-sales index, meaning that it measures average price changes in repeat
sales or refinancing on the same properties.
Labor Force Participation Rate: The labor force as a percent of the civilian noninstitutional population ages 16
years and older.
Net Migration Rate: The U.S. Census Bureau defines the net migration rate as the difference between the number
of migrants entering and those leaving an area in a year, per 1,000 midyear population. May also be expressed in
percent. A positive figure is known as a net immigration rate and a negative figure as a net emigration rate.
Personal Consumption Expenditures by State: A measure of spending on goods and services purchased by, and
on behalf of, households based on households' state of residence divided by the resident population of the area.
Personal Income: Income that persons residing in the area receive in return for their provision of labor, land, and
capital used in current production as well as other income, such as personal current transfer receipts. Per capita
personal income: The personal income of a given area divided by the resident population of the area. Per capita
disposable personal income: The income available to persons for spending or saving (personal income less
personal current taxes) of a given area divided by the resident population of the area.
Poverty Level: The U.S. Census Bureau uses a set of money income thresholds that vary by family size and
composition to determine who is in poverty. If a family's total income is less than the family's threshold, then that
family and every individual in it is considered in poverty.
Total merchandise exports: Total exports are calculated by adding domestic exports (goods that are grown,
produced, or manufactured in the United States) to foreign exports (foreign-origin goods that have previously
entered the United States, Puerto Rico, or the U.S. Virgin Islands for consumption, entry into a CBP bonded
warehouse, or a U.S. Foreign Trade Zone (FTZ), and at the time of exportation, have undergone no change in form
or condition or enhancement in value by further manufacturing).
Total Private nonfarm employment: Each month Current Employment Statistics (CES) surveys a sample of about
2,700 nonfarm private employers (plus federal, state, and local government employers) in Maine asking them to
report the number of jobs, hours, and earnings of workers on their payroll during the week including the 12th day of
each month. The sample accounts for just 7% of employers, but 34% of nonfarm jobs in the state because a high
share of large employers are surveyed.
Unemployment Rate: Number of unemployed as a percent of the labor force. To be classified as unemployed,
persons must be aged 16 years and older with no employment during the reference week, were available for work,
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except for temporary illness, and had made specific efforts to find employment sometime during the 4-week
period ending with the reference week.
Wages and Salaries: Remuneration receivable by employees (including corporate officers) from employers for the
provision of labor services, measured before deductions such as social security contributions, union dues, and
voluntary employee contributions to defined contribution pension plans.